Latest prediction on Australian property prices from the ECONOMIC RECORD

Melbourne house prices are set to fall 9 per cent, while Sydney prices continue to climb and then hold their value, analysis has found.

The paper under review for the Economic Record found Sydney prices would "continue to rise till the end of 2015 then start plateauing with no anticipated sharp falls".

Melbourne prices will begin falling almost immediately, sliding 9.2 per cent in the year ahead, while Sydney's will be up 6 per cent over the year. Brisbane's prices will fall 8.1 per cent and Perth's 5.2 per cent, according to the analysis, while those in Adelaide, Hobart and Canberra will continue to climb slowly.